Your 3% mortgage is more of an asset than a liability. I would turn that place

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Apr 18, 2023
1:37:50am

Cougarbib All-American

Your 3% mortgage is more of an asset than a liability. I would turn that place

into a rental in a heartbeat. I probably would also taken the risk and turned the prior ones into rentals.

I have been a landlord since 1974.

Yes, I had negative cash flow on a few for a short period of time. I have never had one go vacant longer than a month. I have 15 of them now. Risk. Reward. They are all paid for now.

I wish I had a dozen 3% mortgages. Cash flow will be great.

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Cougarbib

Bio page: Cougarbib
Joined: Jul 28, 2003
Last login: Sep 21, 2024
Total posts: 40,952 (111 FO)

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Messages

Author

Time

POLL: Which home has a higher Zillow today: the home you grew up in or your current home?

Odysseus Truly Addicted User

4/16/23 7:46am

My parents built the house I grew up in for $300K in 1991. Today they can sell

wildlandfireguy

4/16/23 7:49am

RE: My parents built the house I grew up in for $300K in 1991. Today they can

russkiejedi

4/16/23 7:54am

<< Deleted >>

4/17/23 12:50pm

One million dollars

eysikal

4/16/23 8:05am

Got that beat. Bought childhood home for $42.5 k in 1974. Now $5.67 M

bluelands

4/16/23 8:27am

Interest rates make it just as affordable now though.

vagabonder

4/16/23 8:28am

Wow

4/16/23 8:39am

My parents are CB rich…….

JohnnyC

4/16/23 7:49am

The 1000 sqFt house I grew up in CA is worth more than my 3500 sqFt house in AZ.

tevye

4/16/23 7:56am

It’s actually not worth more. It just costs more…

Refugee

4/16/23 9:21am

I can add 3 of the 4 houses I lived in growing up and it would be equal to the home I live in now.

4/16/23 7:58am

RE: I can add 3 of the 4 houses I lived in growning and it would be equal to the

Shihan

4/16/23 8:38am

Grew up in mainly 5 homes, all of them are worth more than my current home.

brazilcoug

4/16/23 7:58am

Keep grinding 😤👊🏾

TCuz

4/16/23 8:05am

RE: Keep grinding 😤👊🏾

brazilcoug

4/16/23 8:46am

RE: Keep grinding 😤👊🏾

CougarTailDevourer

4/16/23 9:45am

So some interesting changes. We bought a 3200 sq foot house in Utah in 1994 with

Nat Gas Man

4/16/23 8:05am

Parents could sell the home I grew up in for maybe $150K (if lucky)…

NorCal_Coug

4/16/23 8:06am

This is me. Grew up in 900 sq/ft old house next to RR tracks in Idaho. Not hard to

Soupie

4/16/23 8:11am

Wait I knew a girl from Junior High that matches that description. Is that you

Nat Gas Man

4/16/23 8:15am

Wrong side of ID. Meridian

Soupie

4/16/23 9:40am

Grew up in Southern California. I now live in Mississippi so it's pretty obvious

Mississippi

4/16/23 8:06am

The 1,700 sqft tract home I grew up in is worth slightly more than my current

vagabonder

4/16/23 8:09am

Current home has 170% floor space and 400% lot, but it is 49% the value.

cvd6262

4/16/23 8:09am

The home we built in southern CA when I was a kid is now worth about $2 million

jdub

4/16/23 8:11am

Nice. From my house on a clear day I could see 9/11.

TCuz

4/16/23 8:14am

Amazingly enough both are nearly identical.

VACOUGFAN

4/16/23 8:14am

The house I grew up in in OH was built in 1957 and still stands. Zillow says

AF_Puma

4/16/23 8:17am

I grew up in a 1,000 sq ft house w 3bd in Sandy ($475,400 on Zillow today).

YSMACK

4/16/23 8:17am

Freaking rich CBers.

brazilcoug

4/16/23 8:19am

Zillow thinks my house is still an undeveloped lot......😄

4/16/23 8:34am

RE: Zillow thinks my house is still an undeveloped lot......😄

Nakedbootleg

4/16/23 9:26am

White City? My single Mom moved us there in about 1960. 9884 Poppy Lane.

Cougarbib

4/16/23 12:18pm

Pretty much. That was in my stake. Technically, I lived outside it

YSMACK

4/16/23 1:45pm

Large gully between my hood and your hood. I had a friend over there and hiked

Cougarbib

4/16/23 1:51pm

Oh. You must have been closer to Bear Park

YSMACK

4/16/23 1:57pm

Poppy, Garnet, etc., where we were. It was about 9800 S and between probably

Cougarbib

4/16/23 4:06pm

There was a stake center near Edgemont elementary that was built back when

Cougarbib

4/16/23 4:15pm

My daughter is living in White City now, moving to Pittsburg.

85fan

4/16/23 4:09pm

It was a fairly new neighborhood when we moved in. Lots of families.

Cougarbib

4/16/23 4:12pm

House I grew up in is worth more than double my current house

JOPE

4/16/23 8:18am

Looked at zillow for the first time in a year. I've lost $200k. Time to start

4/16/23 8:20am

House I lived in as a small child wouldn’t even be as big as a shed today

Nat Gas Man

4/16/23 8:24am

Wow Home I grew up in zillows at 405,000. My parents sold it in 2000 for 90,000.

PKCoug

4/16/23 8:25am

Current home is much nicer than the one I grew up in but location, location,

LaserCoug

4/16/23 8:27am

North ABQ Acres isn’t cheap😎

Nat Gas Man

4/16/23 8:28am

My parents bought the home I grew up in for 114k, value now…over 2.5M

cornellcoug

4/16/23 8:33am

Wow.

YSMACK

4/16/23 8:35am

Wages have gone up 219X during that time. No difference in affordability. TIC

vagabonder

4/16/23 8:38am

Some of my homes I own now are worth more and some are worth less.

Shihan

4/16/23 8:40am

I own two homes. One in Florida and

deljdc

4/16/23 8:42am

Ones worth more at $2.2M. One less at $785k. Mines in between.

JamieTartt

4/16/23 8:53am

Both my childhood homes are worth more, with the codicil

Courtimedes

4/16/23 8:58am

Grew up in a LOT of houses; some are more expensive than my current digs

ColoSpgs

4/16/23 8:59am

Grew up 1.1 million. Now 420 k.

Florwood

4/16/23 9:00am

Are you east of Canyon Road up in those townhomes?

4/16/23 9:06am

No, along southern edge bordering American Fork

Florwood

4/16/23 9:44am

3 homes I grew up in are each worth more than what I have now

Archaea

4/16/23 9:04am

Home I grew up in in Las Vegas is a parking lot next to the car rental terminal

BPintheCouv

4/16/23 9:21am

Hawaii 🤙🏼. Bought in 1976 around $67k. Now over $1.03 million today.

ImuaKahuku

4/16/23 9:32am

Home I grew up in is 33x the original price

DrBYU

4/16/23 9:55am

I had to look it up, but the Zestimate difference is only $500 more on my home.

beeferoni

4/16/23 11:37am

My parents divorced. Dad had more $ than Mom. I lived mostly with Mom, but

Cougarbib

4/16/23 12:36pm

Home I grew up in bc it’s in California

therock

4/16/23 12:36pm

The stage of life I am in vs my parents house at the same stage, the house

4/16/23 2:01pm

Go small house with decent yard. Thank me later. I went big on the house. I

Cougarbib

4/16/23 4:11pm

That's just not an option anymore. At least not with any home recently built

4/16/23 4:31pm

There is the key. Buy an older home. It will have a yard.

Cougarbib

4/16/23 8:27pm

There's a balance though. I don't want to buy an old house that'll have to fix

4/17/23 12:55pm

Life is full of tradeoffs. BTW, some older homes are built better than new homes

Cougarbib

4/17/23 5:47pm

There's been a lot of different paths when it comes to owning a home.

4/17/23 6:04pm

Your 3% mortgage is more of an asset than a liability. I would turn that place

Cougarbib

4/18/23 1:37am

Do you use a property manager?

4/18/23 1:43am

Generally no. They are not needed. I have properties in multiple states. On

Cougarbib

4/18/23 1:54am

My current car is worth more than the home I grew up in.

JohnnyComeLately

4/17/23 9:26pm

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